28 May 2014
NZD/USD could be heading much lower
FXStreet (Guatemala) - NZD/USD is trading at 0.8488, down -0.87% on the day, having posted a daily high at 0.8573 and low at 0.8470.
NZD/USD is clustering bids and offers on 0.8480/90 and below the 0.85 psychological handle still. Meanwhile, expectations the RBNZ will signal a pause in June should continue to weigh on NZD/USD for the rest of the week “Markets expect the RBNZ to downgrade its OCR track and we expect that sentiment to endure at least until the 12 June MPS meeting” explained Imre Speizer at Westpac. He continued and said “A break below 0.8525 would signal a further fall to the 0.8300-0.8400 area”.
NZD/USD Levels
With spot trading at 0.8489, we can see next resistance ahead at 0.8499 (Weekly Classic S1), 0.8505 (Daily Classic S2), 0.8512 (Hourly 20 EMA), 0.8529 (Yesterday's Low) and 0.8534 (Daily Classic S1). Support below can be found at 0.8481 (Daily Classic S3), 0.8472 (Daily 100 SMA), 0.8470 (Daily Low), 0.8451 (Weekly Classic S2) and 0.8373 (Weekly Classic S3).
NZD/USD is clustering bids and offers on 0.8480/90 and below the 0.85 psychological handle still. Meanwhile, expectations the RBNZ will signal a pause in June should continue to weigh on NZD/USD for the rest of the week “Markets expect the RBNZ to downgrade its OCR track and we expect that sentiment to endure at least until the 12 June MPS meeting” explained Imre Speizer at Westpac. He continued and said “A break below 0.8525 would signal a further fall to the 0.8300-0.8400 area”.
NZD/USD Levels
With spot trading at 0.8489, we can see next resistance ahead at 0.8499 (Weekly Classic S1), 0.8505 (Daily Classic S2), 0.8512 (Hourly 20 EMA), 0.8529 (Yesterday's Low) and 0.8534 (Daily Classic S1). Support below can be found at 0.8481 (Daily Classic S3), 0.8472 (Daily 100 SMA), 0.8470 (Daily Low), 0.8451 (Weekly Classic S2) and 0.8373 (Weekly Classic S3).